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BEST PART OF THE PITCH: The Kiernans have been dealing with the issue of disappearing garbage can lids. This has led to numerous raccoons tearing through their trash. Retail stores want you to buy the entire trash can, so they don’t sell lids separately. That’s why Kevin created a water-resistant fabric replacement cover for the cans. The Last Lid clips to the handle and the couple claims their product is raccoon-resistant. They have no sales, but there are also no universal garbage can lids out there.

DO THE SHARKS BITE? Robert has no interest in this product. He’s out. Lori loves the passion Kevin and Melissa exhibit, but she can’t invest. Kevin doesn’t like the numbers regarding how much it costs to produce, what the retailers will need and the selling price. He’s out. Mark thinks this is a good product, but doesn’t think it is ready to blow up the marketplace. He’s out. That leaves Daymond.

THE RESULT: Daymond doesn’t like the $200k value attached to a company that has no sales. Kevin offers to raise his equity. Daymond will give him one shot to give him a good number. The offer is for a 60% stake, even though Melissa was thinking 50 would have been fine. Daymond accepts the offer largely because he found himself looking for a garbage can cover a month ago. Robert says he would have sold him one for a lot less than $40,000!

Talbott Teas is designer whole-leaf teas and accessories that are steeped in style. There are 23 blends in this affordable, daily indulgence. The guys had $100,000 in sales in 2009. That grew to $350,000 in 2010. They were at $500,000 for 2011 before hitting the 4th quarter. They had a spike in sales after being declared one of Oprah’s Favorite Things. They’ve been on QVC and want the Sharks to help them capitalize their growth. They have a 50% profit margin before they pay themselves. They’ve invested $300,000 of their own money and believe they can grow the company to eventually sell it for millions.

BEST PART OF THE PITCH: AirBedz is the original truck bed air mattress. The cutout design allows the mattress to go around, and more importantly, go on top of the truck’s wheel wells. This creates a sleep area that utilizes the entire back of the truck. It’s rugged and durable. It’s easy enough to inflate and deflate from a power source that uses a rechargeable battery. Jim had $210,000 in sales last year and may double it by the end of this year.

DO THE SHARKS BITE? Kevin believes this is a small niche market. That’s why he believes Jim has such a big inventory at this time. He has no interest in investing in this product. He’s out. Mark believes there’s a market for this product, but Jim needs to get out there and sell it. He’s out. Robert also believes that Jim hasn’t proved this is the great product yet. He’s out. Daymond follows his lead. Barbara is on the fence because she doesn’t believe Jim is a good salesperson. She offers $250k for 50% of the company. She also wants Jim to get out of the way as a salesperson.

THE RESULT: Jim makes a counteroffer. He’s only willing to give up 25% of his company. Barbara gives him a moment to reconsider, but that’s Jim’s final offer. Barbara says good luck to him just before declaring she’s out. Looks like Jim will have to get into bed with an investor outside the tank.

The Last Lid on Shark Tank

Garbage Can Lid – Season 3 – Episode 303 – Update

So how do you take something as simple as a missing garbage can lid and turn it into a million dollar business? For starter’s you make it better and more efficient then it has ever been made before. The Last Lid was born out of necessity then a cool invention to turn into a business. Kevin and Melissa Kiernan had a problem with wild animals knocking down their trash cans and making big messes quick. Most garbage can lid’s are made in the hopes that you will lose them and buying a replacement has never been an option. Until Now!

The Last Lid is just that, the last lid you will ever need to buy and superior to any lid on the market.

t’s also guaranteed to keep the family of raccoon’s in your neighborhood out of your trash thus eliminating several problems with a single solution.

When the Kiernan’s first appeared on the Shark Tank Show in Season 3 earlier this year, they had a working model of their invention, but no sales to speak of. What they did have going for them was a unique product that solves a real problem for thousands of people and nothing on the market that covers this niche. They were asking the Sharks to invest $40,000.00 for a 20% stake in their business. Out of all the sharks that night, they were most interested in making a deal with Daymond Johnbecause of his Brand building and manufacturing skills. To their surprise, John was indeed the most interested in The Last Lid but without any previous sales he knew this would involve a lot of his time. With all the other Sharks were already out andDaymond gave the Kiernan’s one chance to make him a deal he could not refuse.
As it’s been proven time and time again, when the Sharks give you one last chance to sweeten your offer, they mean it, and they will often give you their answer almost immediately. Kevin realising very quickly that his invention’s success has come down to what he says next, offers Daymond John 60% controlling interest in the Last Lid for $40,000,00. Daymond, almost looking shocked at such a generous percentage, agrees immediately to the deal.Kevin and Melissa already had most of the pieces of the puzzle in place to make this a success but they lacked the one crucial piece to turn this invention into a serious business and change their financial lives forever.

The Clean Bottle was designed with one thing in mind, to be the easiest water bottle too clean that has ever been made. After 3 years and 54 prototypes, Dave Mayer has accomplished that goal and appropriately named His invention The Clean Bottle. What makes this water bottle so unique from anything else on the market is the fact it unscrews on both ends making it much easier to clean and dry out when not in use.

Dave Meyer’s may have invented the cleanest water bottle ever made, but it took all the money he had to create it with little left for advertising the final product. What’s Dave do to start getting the word out about his new invention? He does what any creative Entrepreneur would do, He creates it. Meyer’s went to the Tour de France where everyone has water bottles and has his Giant Clean Bottle Mascot start jogging along with the bike riders. This seemingly simple form of advertising gets picked up with world wide press coverage and puts the Clean Bottle on the map.